Q1 2025 Zalando SE Earnings Call Transcript

May 6, 2025 / 07:30 AM GMT

Release Date Price: €32.01 (-0.12%)

Transcript

Key Points

Positve

Zalando SE (ZLDSF) reported a strong Q1 performance with a 6.5% year-on-year growth in Gross Merchandise Volume (GMV) and a 7.9% increase in revenue.
The company achieved an adjusted EBIT of €47 million, representing a margin of 1.9%, with a year-on-year improvement of 0.7 percentage points.
Zalando SE (ZLDSF) successfully rolled out its upgraded loyalty program, Zalando Plus, to 13 markets, with more than 15% of the customer base participating.
The B2B segment recorded a revenue growth of 11.6%, significantly ahead of group revenue growth, driven by logistics and software solutions.
The proposed acquisition of About You is progressing as planned, with regulatory approval anticipated by summer, which aligns with Zalando SE (ZLDSF)'s strategy to build a leading ecosystem in fashion and lifestyle e-commerce.

Negative

Despite the growth, the spend per customer remained flat at around €296, indicating challenges in increasing customer spending.
Marketing costs increased by 0.5 percentage points, reflecting higher investments in performance marketing and brand visibility campaigns.
The company's cash and cash equivalents decreased by €600 million from Q4 2024, partly due to inventory purchases and restricted cash related to the About You tender offer.
There is a potential risk of overstocking as inventory levels increased, reflecting preparations for the spring-summer season.
The geopolitical and macroeconomic environment remains fast-changing, posing potential risks to future performance despite no notable impact observed so far.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ZALG.DE - Zalando SE
Q1 2025 Zalando SE Earnings Call
May 06, 2025 / 07:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to our Q1 2025 earnings call. I'm joined today by our co-CEO and interim CEO David Schroeder, who will provide a brief overview of the quarter's financial performance, and our VP finance, Woland Lou and David will be available for questions afterwards. As always, this call is being recorded in both the live webcast and the replay will be available on our investor relations webpage later today.

David, over to you for the financial overview.

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Unidentified_2 [2]
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Thank you, Patrick. Good morning, everyone, and thank you for joining today's

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